Annual report pursuant to Section 13 and 15(d)

Schedule III

v3.8.0.1
Schedule III
12 Months Ended
Dec. 31, 2017
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Real Estate and Accumulated Depreciation Disclosure
TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2017 (in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
 
Initial cost to Company
 
Costs Capitalized
Subsequent to Acquisition
(Improvements)
 
Gross Amount Carried at Close of Period
December 31, 2017 (1)
 
 
 
 
 
 
Outlet Center Name
 
Location
 
Encum-brances (2)
 
Land
Buildings,
Improve-ments & Fixtures
 
Land
Buildings,
Improve-ments & Fixtures
 
Land
Buildings,
Improve-ments & Fixtures
Total
 
Accumulated
Depreciation
 
Date of
Construction or Acquisition
 
Life Used to
Compute
Depreciation
in Income
Statement
Atlantic City
 
Atlantic City, NJ
 
$
39,879

 
$

$
125,988

 
$

$
5,006

 
$

$
130,994

$
130,994

 
$
28,612

 
2011 (4)
 
(3) 
Blowing Rock
 
Blowing Rock, NC
 

 
1,963

9,424

 

8,652

 
1,963

18,076

20,039

 
10,028

 
1997 (4)
 
(3) 
Branson
 
Branson, MO
 

 
4,407

25,040

 
396

23,057

 
4,803

48,097

52,900

 
30,082

 
1994
 
(3) 
Charleston
 
Charleston, SC
 

 
10,353

48,877

 

14,816

 
10,353

63,693

74,046

 
28,547

 
2006
 
(3) 
Commerce
 
Commerce, GA
 

 
1,262

14,046

 
707

34,928

 
1,969

48,974

50,943

 
31,710

 
1995
 
(3) 
Daytona Beach
 
Daytona Beach, FL
 

 
9,913

81,183

 


 
9,913

81,183

91,096

 
5,315

 
2016
 
(3) 
Deer Park
 
Deer Park, NY
 

 
82,413

173,044

 

12,194

 
82,413

185,238

267,651

 
32,435

 
2013 (4)
 
(3) 
Foley
 
Foley, AL
 

 
4,400

82,410

 
693

41,927

 
5,093

124,337

129,430

 
54,558

 
2003 (4)
 
(3) 
Fort Worth
 
Fort Worth, TX
 

 
11,157

83,827

 


 
11,157

83,827

94,984

 
601

 
2017
 
(3) 
Foxwoods
 
Mashantucket, CT
 

 

130,561

 

1,262

 

131,823

131,823

 
14,665

 
2015
 
(3) 
Gonzales
 
Gonzales, LA
 

 
679

15,895

 

34,684

 
679

50,579

51,258

 
31,867

 
1992
 
(3) 
Grand Rapids
 
Grand Rapids, MI
 

 
8,180

75,420

 

566

 
8,180

75,986

84,166

 
10,177

 
2015
 
(3) 
Hershey
 
Hershey, PA
 

 
3,673

48,186

 

3,905

 
3,673

52,091

55,764

 
12,597

 
2011(4)
 
(3) 
Hilton Head I
 
Bluffton, SC
 

 
4,753


 

33,346

 
4,753

33,346

38,099

 
12,605

 
2011
 
(3) 
Hilton Head II
 
Bluffton, SC
 

 
5,128

20,668

 

12,137

 
5,128

32,805

37,933

 
15,458

 
2003 (4)
 
(3) 
Howell
 
Howell, MI
 

 
2,250

35,250

 

14,288

 
2,250

49,538

51,788

 
23,380

 
2002 (4)
 
(3) 
Jeffersonville
 
Jeffersonville, OH
 

 
2,752

111,276

 

11,683

 
2,752

122,959

125,711

 
26,729

 
2011 (4)
 
(3) 
Lancaster
 
Lancaster, PA
 

 
3,691

19,907

 
6,656

55,935

 
10,347

75,842

86,189

 
26,569

 
1994 (4)
 
(3) 
Locust Grove
 
Locust Grove, GA
 

 
2,558

11,801

 

28,687

 
2,558

40,488

43,046

 
25,694

 
1994
 
(3) 
Mebane
 
Mebane, NC
 

 
8,821

53,362

 

3,024

 
8,821

56,386

65,207

 
23,015

 
2010
 
(3) 
Myrtle Beach Hwy 17
 
Myrtle Beach, SC
 

 

80,733

 

24,911

 

105,644

105,644

 
29,791

 
2009 (4)
 
(3) 
Myrtle Beach Hwy 501
 
Myrtle Beach, SC
 

 
8,781

56,798

 

38,156

 
8,781

94,954

103,735

 
41,492

 
2003 (4)
 
(3) 
Nags Head
 
Nags Head, NC
 

 
1,853

6,679

 

6,298

 
1,853

12,977

14,830

 
8,301

 
1997 (4)
 
(3) 
Ocean City
 
Ocean City, MD
 

 

16,334

 

12,946

 

29,280

29,280

 
7,013

 
2011 (4)
 
(3) 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2017 (in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
 
Initial cost to Company
 
Costs Capitalized
Subsequent to Acquisition
(Improvements)
 
Gross Amount Carried at Close of Period
December 31, 2017(1)
 
 
 
 
 
 
Outlet Center Name
 
Location
 
Encum-brances (2)

 
Land
Buildings,
Improve-ments & Fixtures
 
Land
Buildings,
Improve-ments & Fixtures
 
Land
Buildings,
Improve-ments & Fixtures
Total
 
Accumulated
Depreciation
 
Date of
Construction or Acquisition
 
Life Used to
Compute
Depreciation
in Income
Statement
Park City
 
Park City, UT
 

 
6,900

33,597

 
343

27,524

 
7,243

61,121

68,364

 
25,774

 
2003 (4)
 
(3) 
Pittsburgh
 
Pittsburgh, PA
 

 
5,528

91,288

 
3

13,602

 
5,531

104,890

110,421

 
49,281

 
2008
 
(3) 
Rehoboth Beach
 
Rehoboth Beach, DE
 

 
20,600

74,209

 
1,875

53,335

 
22,475

127,544

150,019

 
47,162

 
2003 (4)
 
(3) 
Riverhead
 
Riverhead, NY
 

 

36,374

 
6,152

127,942

 
6,152

164,316

170,468

 
89,714

 
1993
 
(3) 
San Marcos
 
San Marcos, TX
 

 
1,801

9,440

 
2,301

58,326

 
4,102

67,766

71,868

 
41,424

 
1993
 
(3) 
Savannah
 
Pooler, GA
 

 
8,556

167,780

 

2,780

 
8,556

170,560

179,116

 
8,397

 
2016 (4)
 
(3) 
Sevierville
 
Sevierville, TN
 

 

18,495

 

48,944

 

67,439

67,439

 
37,488

 
1997 (4)
 
(3) 
Southaven
 
Southaven, MS
 
59,881

 
14,959

62,042

 

3,194

 
14,959

65,236

80,195

 
8,629

 
2015
 
(3) 
Terrell
 
Terrell, TX
 

 
523

13,432

 

9,712

 
523

23,144

23,667

 
18,173

 
1994
 
(3) 
Tilton
 
Tilton, NH
 

 
1,800

24,838

 
29

13,780

 
1,829

38,618

40,447

 
17,025

 
2003 (4)
 
(3) 
Westgate
 
Glendale, AZ
 

 
19,037

140,337

 

2,329

 
19,037

142,666

161,703

 
7,013

 
2016 (4)
 
(3) 
Williamsburg
 
Williamsburg, IA
 

 
706

6,781

 
716

17,798

 
1,422

24,579

26,001

 
20,510

 
1991
 
(3) 
Other
 
Various
 

 
710

1,496

 


 
710

1,496

2,206

 
136

 
Various
 
(3) 
 
 
 
 
$
99,760

 
$
260,107

$
2,006,818

 
$
19,871

$
801,674

 
$
279,978

$
2,808,492

$
3,088,470

 
$
901,967

 
 
 
 
(1)
Aggregate cost for federal income tax purposes is approximately $3.1 billion.
(2)
Including premiums and net of debt origination costs.
(3)
We generally use estimated lives of 33 years for buildings and 15 years for land improvements. Tenant finishing allowances are depreciated over the initial lease term. Building, improvements & fixtures includes amounts included in construction in progress on the consolidated balance sheet.
(4)
Represents year acquired.

TANGER FACTORY OUTLET CENTERS, INC. and SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP and SUBSIDIARIES
SCHEDULE III - (Continued)
REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2017
(in thousands)

The changes in total real estate for the years ended December 31, 2017, 2016 and 2015 are as follows:

 
 
2017
 
2016
 
2015
Balance, beginning of year
 
$
2,965,907

 
$
2,513,217

 
$
2,263,603

Acquisitions
 

 
335,710

 

Improvements
 
175,868

 
163,187

 
245,391

Dispositions and reclassifications to and from rental property held for sale
 
(53,305
)
 
(46,207
)
 
4,223

Balance, end of year
 
$
3,088,470

 
$
2,965,907

 
$
2,513,217



The changes in accumulated depreciation for the years ended December 31, 2017, 2016 and 2015 are as follows:

 
 
2017
 
2016
 
2015
Balance, beginning of year
 
$
814,583

 
$
748,341

 
$
662,236

Depreciation for the period
 
107,845

 
96,813

 
85,872

Dispositions and reclassifications to and from rental property held for sale
 
(20,461
)
 
(30,571
)
 
233

Balance, end of year
 
$
901,967

 
$
814,583

 
$
748,341